TEK Tower (30 Francis) | 45 fl | U/C

[creative]

You can walk away and be sued. Blanket appraisals are being done on some new condo buildings to help people close. I would not want to complete a deal on a property that is worth 100k or more less than I paid. Builders also don’t want to get stuck with an inventory of unsold units or units where people are unable to close. The corporations buying up empty condos in Toronto aren’t necessarily buying up the entire building. I’ve read where, in some instances, they are being selective in what they are purchasing. Avoiding the sub 500 sq/ft units. My guess is that this building will entail a lot of different deals to keep loses to a minimum.